Ecopetrol SA · BVC:ECOPETROL
Ecopetrol SA — Investor Presentation (May 2023)
18 slides from Ecopetrol SA's investor presentation, May 2023
Slide 1: Corporate Presentation May 2023
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Slide 2: Legal Disclosure
Legal Disclosure This document was prepared by Ecopetrol S.A. (the “Company” or “Ecopetrol”) with the purpose of providing the market and interested parties certain financial and other information of the Company. This document may include strategy discussions and forward-looking statements regarding
Slide 3: Intro
Intro 3
Slide 4: 2040 Corporate strategy
2040 Corporate strategy econeiter GROUP 8%-10% Buse" < 2,5X Gross debt / EBITDA 13 - 20 TCOP Annual transfer payments to the Nation* IE ENERGY TRANSITION 13.000 - 14.000 MUSDS$ (-49 - 53 TCOP) Annual EBITDA by 2040** %-50% 30%-50% Share of low-emission business in GE EBITDA CUTTING-EDGE KNOWLEDGE 20
Slide 5: We grow with a diversified energy group
We grow with as a diversifiec +9 countries +1 & thousand employees | Low-emission rgy transmission solutions N and toll roads = ett 2022 7 2040 “2040 2022? 2000 OPeCTROL
Slide 6: 2022: Results that exceeded targets set
BReweawaeHmrReekz Be sen 5000 159,5 Revenue COPT 18 8% Ml sion 31% 14,3% 13,6% eee col I Netr core 86% nee a be al ee 21% eee -- 3 ee ee! POM e- "7 esd ee 67,8 70,8 75.2 52,0 any 55,2 50,0 a aa 30,8 311 . 33,4 18 18 ; a 6 I | 33 16,8 16,7 = |_| Ris we —_ =m |] 2015 ~4,0 2016 2017 2018 2019 2020 2021
Slide 7: We transformed ourselves, to be able to grow
We transformed ourselves, to be able to as “the an 2016 2017 019 S & oe = = ° Cartagena | First |e Entry into i ° “Apoyo E Refinery | offshorewell © thePermian | program successful | operatedby —_—_ibasin | during performance ; aColombian — / COVID-1 test | Company | °Castilla : i | Solar Park 21MW
Slide 8: Ecopetrol is transitioning to become the company of the future
Ecopetrol is transitioning to become the company of the future {+4 Company of the future a ¢ 6 aramco enooc janie PIONEE NATURAL RESOURCES 6 PETROBRAS PTTEP >> Through time companies will migrate from one archetype to another S&P Global Commodity Insights. REPSOL Santos : rr
Slide 9: We reached the highest level of reserves in years
We reached the highest level of reserves in 8 years Evolution of proved reserves ‘el : 2) ia I ‘ MBPE, ( \ ae 2,011 1,893 2,002 Tmo TTD Location ) - MBPE MBPE = MBPE of Reserves 75% |_____ 11% 0 2,011* 2,002 r USA 0, 25% a ee er | 89% USD/ BI SEC price 56 4h 55 72 63 43 69 98 Reserves Replacement Ra
Slide 10: Ecopetrol Group's resources and reserves progression
Ecopetrol Group’s resources and reserves progression | parr More uncertainty e uncert Exploration OO PROGUCTION Seismic acquisition / reprocessing Exnloratanvmrel (a Appraisal wells Development wells and facilities Prospective Discovered Contingent Total resources resources’ ources? Reserves Po a (P
Slide 11: We improved our execution capacity and got production to pre-pandemic levels
mproved our execution capacity got production to pre-pandemic levels Total production of hydrocarbons Thousand barrels per day 715.1 720.4 724.8 709 725 696.8 679 2017 2018 2019 2020 2021 2022 —«-2023 target — Cafio Sur: (green field) —> Permian. +15 mboed vs. dec 2022. Investment in production: Wel
Slide 12: Circular economy in the Ecopetrol Group: contribution of roads
Circular economy in the Ecopetrol Group: contribution of roads Implementation of Sustainable and efficient asphaltic mixes Ruta del Maipo - section at testin 2.5 km El Dorado airport 125,000 bss: Section in Medellin 200,000 os * Recycled rubber erecle d halt material [RAP 15%) fore. inom res dasices
Slide 13: We are making progress in renewable energy supply
We are making progress i Renewable energy supply capacity (MW) 38% 900* 15% | ane CantayUs small hydroelectric Measurement of wind power power plant (4.2 MW) potential Huila and Casanare geothermal project in the Nereidas Vall Caldas 50-100 MW
Slide 14: Hydrogen diversifies the energy mix and is key to decarbonization
Hydrogen diversifies the energy mix and is key ecoperter to decarbonization GROUP > Successful pilot of green — Sustainable mobility: — Own operations > Hegas H, in the downstream First Transmilenio bus (growth) — Own operations > Allies (March) + Refinery megaprojects {conversion} (9,000 tn/year of
Slide 15: Colombia has privileged capabilities and resources to set the pace in the energy transition
Colombia has privileged capabilities and resources =e a4 to set the pace in the energy transition in the region BoM —> Colombia's competitive advantage: —> Our proximity to markets Diversity of clean energy sources is key to reduce the carbon footprint o Top 10 of countries Water @ccountable for 46%
Slide 16: Ecopetrol's growing contribution to national development
Ecopetrol’s growing contribution to national development const. GROUP = Royalties = Taxes Dividends Transfers to the Nation (COP T) 2007 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 eedils CichbeaLeh yy Shareholders = Balance of payments Human talent : 2 Procurement = investment
Slide 17: The 2023 financial and investment plan is geared towards the energy transition and value creation
The 2023 financial and investment Plan is geared towards the energy transition and value creation 40% of the investments in 2023 are oriented The Ecopetrol Group allocates resources from towards the energy transition the 2023 Plan in its commitment to TESG Climate Change Use energy and Energy Gas an
Slide 18: Thank you!